Key players within the XRP community are growing increasingly hopeful about the potential for XRP to be listed on the prestigious American exchange, Robinhood, known for its stringent listing criteria.
Noteworthy U.S.-based exchanges such as Coinbase, Gemini, and Kraken have already shown support for XRP trading, reinstating it post a legal victory Ripple secured against the SEC about a year ago. Despite the ruling that XRP is not a security, Robinhood has chosen to keep its distance from XRP.
Currently, Robinhood offers real-time market data for XRP but does not allow trading for it. This service extends to more than 50 other cryptocurrencies that the exchange does not currently permit trading for, including BNB, Cardano (ADA), and Solana (SOL). Robinhood has indicated that it may consider adding support for buying and selling XRP and the other 50 tokens in the future.
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The XRP community, also known as the XRP Army, is confident that the day XRP gets listed on Robinhood is fast approaching, especially with the recent announcement of Robinhood’s plans to acquire Bitstamp, a global crypto exchange that has been supportive of XRP.
As per the official announcement, Robinhood’s acquisition of Bitstamp will merge Bitstamp’s extensive crypto exchange operations into Robinhood’s platform, catering to retail and institutional clients in the U.K., U.S., E.U., and Asia. The transaction is anticipated to be finalized in the first half of 2025, subject to customary closing conditions and regulatory approvals.
One of the main reasons supporting the potential listing of XRP on Robinhood post the acquisition is Bitstamp’s robust backing of the XRP Ledger. For instance, Bitstamp has issued stablecoins for USD, EUR, JPY, GBP, AUD, and CHF on the XRP Ledger.
Vet, an XRPL dUNL Validator, highlighted this aspect following the acquisition news, mentioning that Robinhood will inherit the necessary technical setup to list tokens issued on the XRPL. Additionally, since Bitstamp already facilitates XRP trading, Vet suggested that Robinhood could seamlessly continue this practice.
Optimism is also high for the listing of XRP and Ripple’s stablecoin, RLUSD, on Robinhood following the acquisition. With Bitstamp holding over 50 active licenses globally, Robinhood is expected to have the regulatory clearance to continue supporting XRP.
Furthermore, community members are hopeful about Ripple’s stake in Bitstamp potentially leading to the listing of Ripple’s forthcoming stablecoin. However, some skeptics like crypto sleuth Mr. Huber believe that Robinhood might delist XRP from Bitstamp post the acquisition.
Disclaimer: This content serves as information and should not be taken as financial advice. The opinions expressed in this article are personal views and do not represent The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.
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